Equities research analysts expect that IDEXX Laboratories, Inc. (NASDAQ:IDXX) will report $493.63 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for IDEXX Laboratories’ earnings. The lowest sales estimate is $490.40 million and the highest is $499.90 million. IDEXX Laboratories reported sales of $448.31 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.1%. The business is scheduled to issue its next earnings results on Tuesday, November 7th.
On average, analysts expect that IDEXX Laboratories will report full-year sales of $493.63 million for the current fiscal year, with estimates ranging from $1.95 billion to $1.96 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.13 billion per share, with estimates ranging from $2.07 billion to $2.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover IDEXX Laboratories.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.10. The business had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. IDEXX Laboratories’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share.
A number of brokerages have weighed in on IDXX. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a research note on Wednesday, June 28th. Canaccord Genuity reiterated a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of IDEXX Laboratories in a research report on Friday, April 28th. Aegis began coverage on IDEXX Laboratories in a research report on Wednesday, May 31st. They set a “sell” rating and a $118.00 price objective on the stock. They noted that the move was a valuation call. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. IDEXX Laboratories presently has an average rating of “Hold” and an average target price of $173.80.
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Shares of IDEXX Laboratories (IDXX) traded down 2.1422% during mid-day trading on Thursday, hitting $151.2001. The stock had a trading volume of 360,291 shares. The firm has a 50 day moving average price of $162.50 and a 200-day moving average price of $155.40. The stock has a market cap of $13.20 billion, a P/E ratio of 52.0124 and a beta of 0.49. IDEXX Laboratories has a 12 month low of $102.45 and a 12 month high of $173.01.
IDEXX Laboratories declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 3rd that permits the company to buyback 3,000,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
In related news, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $167.82, for a total transaction of $2,181,660.00. Following the completion of the sale, the chairman now directly owns 1,032,994 shares in the company, valued at approximately $173,357,053.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William T. End sold 5,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $162.55, for a total value of $812,750.00. Following the sale, the director now owns 45,256 shares of the company’s stock, valued at $7,356,362.80. The disclosure for this sale can be found here. Insiders have sold a total of 38,572 shares of company stock worth $6,217,637 over the last quarter. Corporate insiders own 2.77% of the company’s stock.
Large investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. boosted its stake in shares of IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock valued at $119,000 after buying an additional 17 shares in the last quarter. Capital Advisors Ltd. LLC bought a new stake in shares of IDEXX Laboratories during the second quarter valued at $128,000. Acrospire Investment Management LLC boosted its stake in shares of IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock valued at $130,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock valued at $162,000 after buying an additional 323 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of IDEXX Laboratories during the first quarter valued at $200,000. Institutional investors own 89.80% of the company’s stock.
About IDEXX Laboratories
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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